CBA: no plans to abandon floating exchange rate

The Central Bank of Azerbaijan (CBA) doesn’t plan to abandon the floating exchange rate, said the message from the bank on March 11.

CBA denied the information in the social media about plans to abandon the floating exchange rate from March 18.

“No letter with such content was sent by the Central Bank to commercial banks,” said the message. “The exchange rate of manat is set based on the demand and supply on the currency market in accordance with the floating exchange rate.”

Source: Azer tag